What is the Clean Development Mechanism (CDM)?

Essentially, the Clean Development Mechanism (CDM) allows developed countries to offset their carbon emissions by funding projects that would reduce emissions in developing countries. In this way, developing countries may develop more sustainably, while developed countries meet their emission targets. Since its inception, the CDM has been criticized for its overall efficiency, as well as for funding unsustainable and sometimes fraudulent activity. There have also been concerns over the exclusion of forest conservation, which led to the development of REDD+.